| We all see the ads on television - get quick cash for | | | | gold bars or coins, the spot price is what you should be |
| unwanted gold with thousand of happy customers | | | | aiming at but keep in mind that any offer from a dealer |
| flashing tons of cash in front of tv cameras. Due to | | | | will always be slightly less than market value since the |
| recent high gold prices many people are considering | | | | dealer has to make a profit. |
| selling gold jewelry for cash. There are a few things | | | | Cash value for gold jewelry is much less than the |
| you should consider when you decide to sell your gold | | | | appraised value and there are a few reasons for that. |
| jewelry. I am a firm believer that knowledge is power | | | | First of all, the appraised value of a jewelry piece |
| and you should know what you have and know what | | | | includes the labour and the retail mark up of your gold |
| it is worth before trying to sell your gold jewelry. | | | | jewelry since the appraisal is most likely done for |
| First you need to realize how much gold is in your | | | | insurance replacement costs of a particular piece. |
| jewelry. Most dealers base their pricing solely by the | | | | Retail mark ups on jewelry are astonishing and most |
| scrap metal value of your gold so it is worthwhile to | | | | people don't realize that when they try to sell gold. The |
| look at the gold marking to determine carat weight. In | | | | reason is simple; since jewelry is a luxury item and |
| most countries by law, the carat stamp is a | | | | doesn't go out of style, become obsolete or break |
| requirement on any gold jewelry to be sold in stores | | | | down like an electronic item (stereo, tvs, etc), it often |
| and it is the first indication of the gold content in any | | | | sits on display for months and even years before |
| gold jewelry coming from a reputable seller. Most | | | | being sold at a retail store, and since every jewelry |
| items in the North American market would be marked | | | | store has high overhead, jewelry is often marked up |
| 10k, 14k, 18k to show the purity of gold in a particular | | | | by as much as 600 percent to turn any profit. You |
| piece of jewelry. European standard is different and it | | | | have to assume unfortunately that the price offered |
| is measured in parts per thousand and would be | | | | for your gold jewelry will be much less than you paid |
| stamped 416, 585, 750. I will discuss what that means | | | | for it. The value of gold constantly fluctuates and |
| below. | | | | depends on many factors. Always check the current |
| If you have gold filled jewelry, electroplated jewelry or | | | | price before selling and take a note of it when |
| gold plated jewelry then in most cases it would not be | | | | shopping around for a quote. |
| worth to try and sell them for the gold content and | | | | My advice is to avoid mail in gold buyers. Most of |
| most dealers will refuse buying this type of jewelry. | | | | these companies have a high overhead and |
| The most common stamps for such items are GF | | | | advertising costs and you will lose some control when |
| (gold filled), GP (gold plated) and finally EGP (electro | | | | you mail in your jewelry since you can't be there when |
| gold plated) | | | | your gold is checked and weighed. I have heard many |
| Gold karats are expressed in units of 24ths. Thus, pure | | | | complaints from my customers regarding such |
| gold is 24-karat or 100 percent gold, 18-karat is 75 | | | | services and while they may be beneficial for |
| percent gold, 14-karat is 58.5 percent gold (585 | | | | someone who doesn't have the time to shop around, |
| european stamp), 10-karat is 41.6 percent gold (416) | | | | such customers end up paying for this convenience of |
| and so on. The conversion is simple; divide the karat | | | | getting a check in the mail. Know what you are selling |
| value by 24 to get the percentage of gold, ex: 10 | | | | first if at all possible!!! Go to two or more dealers to get |
| 24=0.416 and so on. The price of gold which we all | | | | quotes. Most reputable dealers will be willing to tell you |
| see on TV is based on a troy ounce which is | | | | how much they will pay for your piece for free and |
| approximately 31.1 grams of pure 24K gold in standard | | | | with no obligations. |
| exchange form such as bars or coins. If you are selling | | | | |